...Board of his decision to resign as chairman and retire from the company’s Board of Directors who has now elected Morten Eldrup-Jørgensen to that position. He is currently a member of the Board. Jim Hagemann Snabe, Co-CEO of SAP AG, who is also currently a member of the Board, has been elected deputy chairman of the Board.
The changes to the Board of Directors will not affect the ongoing strategic review of the company. In connection with the strategic review, the Board of Directors has retained an internationally acknowledged firm of consultants to facilitate the work which will include a market analysis and an assessment of the best strategic alternatives for the company, including a growth strategy for the company’s existing business, as well as potential synergies with other companies. The Board of Directors has suspended contacts with potential buyers of the company until the conclusions of the strategic review are available in order to optimize the Board’s platform for assessing the company’s assets and, on that basis, decide on how to best serve the interests of the company’s shareholders and other stakeholders. The Board of Directors still expects to announce the results of the strategic review on or before May 14, 2012.